Balance sheet as of Jan 1, 2008.
2008 End of Year NetWorth Update: ($288,288)
Article by DebtKid
DebtKid has written 441 awesome articles. This is my online journal of my journey to get out of debt. I started with over 300K in debt and am slowly hacking away.
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{ 5 comments… read them below or add one }
Way to go DK!!! Congrats on the gf and on the improved financial situation. The improved finances and getting a job are both quite impressive accomplishments at any point in time, but especially in this economy.
Since, as you noted, this is a blog about the debt and not relationships, I won't ask about the new gf, but do wish you both well in the new year. Remember to take it slow – whatever is great about her will still be great about her in a month, a year, etc.
However since this is a blog about the debt, I will ask about the substantial debt destruction fund. You have done a great job of far exceeding the original $20k goal on the bar to the right. Will you share with your fans and readers your plan for that fund? Are you looking to amass the full $86k and then pay off your collections? Aren't the collections several separate credit cards? Could you pay off at least one of them? Could you pay off the one debt that is charging you the most interest, such as IRS, WA state, the care or one of the collections? Or are you planning to pay your shareholders first? That fund is certainly a nice cushion to have, but with the balance of the debt, perhaps the cushion does not need to be quite so large.
dk,
curious as to what you think the effect of this blog has had on your significant progress?
chris
What's with "collections"? Can you please give us some detail? Are you getting any calls or letters? Are you in full ostrich mode?
Happy 2009.
Cheers,
Alan
Let me get this straight: at the end of the year, you were even more in the hole than at the beginning of the year? Or is that Jan 2008 column supposed to say Jan 2009?
I noticed that you have not included the value of your business in this table. You should.